1129 Lodi Place, Los Angeles, CA 90038
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Listed Price :
$3,100,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
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Year Built :
1953
Property Description
Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.
Interior Features
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Listing Information
Address |
1129 Lodi Place |
City |
Los Angeles |
State |
CA |
Zip |
90038 |
County |
Los Angeles |
Listing Agent |
Armin Soleimani DRE #01846872 |
Co-Listing Agent |
Julio Ruiz DRE #01911261 |
Courtesy Of |
Global Platinum Properties, Inc. |
List Price |
$3,100,000 |
Status |
Active |
Type |
Residential Income |
Structure Size |
N/A |
Lot Size |
6,766 |
Year Built |
1953 |
Listing information courtesy of: Armin Soleimani, Julio Ruiz, Global Platinum Properties, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of May 14th, 2024 at 1:43 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.